RIABiz

Fidelity Investments just cast a wider net for RIA custody revenues by backstopping Savvy Wealth's (expected mid-2027 ) custody launch -- hastened by the lean-in of '…

Savvy and Fidelity make a strong team to target Commonwealth assets, Savvy CEO says, because those advisors lived on Fidelity ...
RIABizOpinion

Hightower Advisor CEO names two new presidents -- one to revamp the old rollup business, the other to develop the new single-system unit -- both with the objectiv…

Marco De Freitas wil undertake the massive switch from Vanguard in November and Jennifer Frazier will mostly formalize her ...
RIABiz

'No rush' Peter Mallouk is doing wild 'gap' deals as he rides out RIA seller's market and his Creative Planning keeps 'billions' of purchasing power 'locked-and-loaded' f…

The $780-billion RIA owner says eye-popping side deals like $4.3-trillion RVK add to the core 'Creative Planning' strategy -- ...
RIABiz

David Fortunato makes his third pivot after cash management cross-selling fails to yield ample robo investors -- a bolt-on discount brokerage will join its digital home …

The Wealthfront CEO turns Q2 earnings into a confessional, volunteering how the robo-advisor misjudged it's cohort's ...
RIABiz

Schwab's poach of $8-billion Ameriprise breakaway extends its wild 2026 rout of the once impenetrable fortress to four $1-billion-plus teams with help from high-multip…

The Westlake, Texas custodial giant of $6 trillion helped launch Rise Private Wealth Management and its is is running the ...
RIABiz

Schwab scores exclusive (for now) contract with Anthropic and takes AI 'driver's seat' in RIA custody, analyst says, though others counter that it's generic and late-coming

The Westlake, Texas, broker/custodian is 'the gorilla' with 'first crack' at new AI system, and will have the category-killing, API-supreme-equivalent that RIAs will be compelled to adopt -- or else, ...
RIABiz

Schwab's surprise unveiling of Anthropic deal at Future Proof shows it has an AI ace up its sleeve, but it may take five years or more to catch up with Altruist, if at all, say ...

RIAs are caught in the middle over data concerns, as the $6-trillion RIA custody giant blindsides the soon-to-be ...
RIABiz

Schwab Wealth Advisory (SWA) unveils 'corkage' fee on third-party SMAs, typically .35%, as slew of changes add to 'elegant' master plan to convert DIY book to fees

Bryan Olson: Overseeing 'elegant' upgrade plan and now come the fee adjustments. Charles Schwab & Co. unveiled another critical piece of its plan to radically increase fee revenue at its ‘Schwab ...
RIABiz

Ritik Malhotra sells not-for-sale Savvy stake for $100 million after Utah Jazz owner showed up big for his LPL-disruption-by-AI play -- and Mark Casady re-upped at the new ...

Ryan Smith, Ryan Sweeney and Halo invested at a valuation 560% more than Savvy's B round 15 months ago, enticed by some wins, an artificial intelligence tailwind and the former LPL CEO on speed-dial.
RIABiz

After Fidelity shutdown its password-sharing business model last year, Pontera's new tack is a 'non-discretionary service' while it waits out a CFPB decision on bank data ...

Yoav Zurel: There is no one-size-fits-all approach to retirement planning because there is no one-size-fits-all retirement saver. Brooke's Note: It seems to me that it makes all the sense in the world ...
RIABiz

After dominating Forbes rankings for years, Morgan Stanley suspends participation over $6-million editor scandal -- forcing RIAs and wirehouses to weigh whether 'rented ...

Emma Smith: The amount of money being made around these rankings makes the 'separation of church and state' incredibly important. Brooke's Note: We were working all week on a follow-up to last ...
RIABiz

Rick Wurster insists Schwab won't charge RIAs custody fees or roll out AI cash optimizers, but Compass Point analysts say a 'Costco'-style fee for agentic cash-sorting could ...

Schwab CEO Rick Wurster maintains the firm will not charge RIA custody fees despite pressure on cash sweep margins. Compass Point analysts suggest subscription-based AI cash-sorting tools could ...